1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tems11 [23]
1 year ago
13

TRUE/FALSE. a good with many close substitutes is likely to have relativelyelastic correct demand, since consumers can easily ch

oose to purchase one of the close substitutes if the price of the good rises.
Computers and Technology
1 answer:
natta225 [31]1 year ago
8 0

Yes, this is true. Close substitutes for a good will make the demand for that good more elastic, since consumers can easily switch to a different good if the price of the original good rises.

<h3><u>The Impact of Close Substitutes on Price Elasticity of Demand</u></h3>

The demand for a good with many close substitutes is likely to be relatively elastic. This is because when the price of the good increases, consumers can easily switch to one of the close substitutes, which limits the effect of the price increase on demand.

For instance:

  • If the price of a particular brand of cereal rises, consumers may decide to purchase a different brand of cereal as an alternative, rather than paying the higher price.

This ability to switch to a close substitute reduces the impact of the price increase on demand.

Elasticity is an important concept in economics and can be used to understand how prices and demand interact.

  • When demand is elastic, an increase in price will cause a large decrease in demand. This is because consumers have the ability to switch to close substitutes, which limits the effect of the price increase.
  • On the other hand, when demand is inelastic, an increase in price will cause only a small decrease in demand. In this case, consumers do not have close substitutes available, so they are more likely to continue purchasing the good despite the price increase.

Learn more about <u>Elasticity </u><u>of </u><u>Demand</u> at: brainly.com/question/5078326

#SPJ4

You might be interested in
Given public class Fishing { byte b1 = 4; int i1 = 123456; long L1 = (long) i1; //Line A short s2 = (short) i1; //Line B byte b2
Aleksandr [31]

Answer:

Line E.

Explanation:

The  given program is as follows:

public class Fishing {

   byte b1 = 4; int i1 = 123456; long L1 = (long) i1;   //Line A

   short s2 = (short) i1;     //Line B

   byte b2 = (byte) i1;     //Line C

   int i2 = (int)123.456;    //Line D

   byte b3 = b1 + 7;     //Line E

   }

In the above code Line E will not compile and give following compilation error:

error: incompatible types: possible lossy conversion from int to byte

This error is coming because in Java b1 + 7 will be interpreted as int variable expression. Therefore in order to make code of Line E work the expression should be type casted as byte.  

The correct code will be as follows:

public class Fishing {

   byte b1 = 4; int i1 = 123456; long L1 = (long) i1;   //Line A

   short s2 = (short) i1;     //Line B

   byte b2 = (byte) i1;     //Line C

   int i2 = (int)123.456;    //Line D

   byte b3 = (byte)(b1 + 7);     //Line E

   }

5 0
3 years ago
Which type of storage disk and disk drive can you use in the given situation?
Margarita [4]

Answer:

The answer to this question is DVD and DVD-RW

Explanation:

6 0
3 years ago
Cars are only as safe as their driver, so __ is your bet to lower your risk.
lara [203]

seatbelt

Explanation:

Seatbelt lowers your momentum so it can take impact to be less dangerous

7 0
2 years ago
6.10.1: Modify a C string parameter. Complete the function to replace any period by an exclamation point. Ex: "Hello. I'm Miley.
Andrej [43]

Answer:

#include <iostream>

#include <cstring>

using namespace std;

void replacePeriod(char* phrase) {

int i = 0;

while(*(phrase + i) != '\0')

{

if(*(phrase + i) == '.')

*(phrase + i) = '!';

i++;

}

}

int main() {

const int STRING_SIZE = 50;

char sentence[STRING_SIZE];

strcpy(sentence, "Hello. I'm Miley. Nice to meet you.");

replacePeriod(sentence);

cout << "Updated sentence: " << endl;

cout << sentence << endl;

return 0;

}

Explanation:

  • Create a function called replacePeriod that takes a pointer of type char as a parameter.
  • Loop through the end of phrase, check if phrase has a period and then replace it with a sign of exclamation.
  • Inside the main function, define the sentence and pass it as an argument to the replacePeriod function.
  • Finally display the updated sentence.
6 0
3 years ago
Prompt the user to input an integer, a double, a character, and a string, storing each into separate variables. Then, output tho
cupoosta [38]

Answer:

Following are the program in java language:

import java.util.*; // import package

public class Main

{

public static void main(String[] args) // main method

{

 int num; // integer variable declaration

 double r; //double varaible declaration

 char ch; // char variable declaration

Scanner scnr=new Scanner(System.in); // creating the instance of scanner

 System.out.println("Enter the string:");

 String str=scnr.nextLine(); // reda string by user

System.out.println("Enter the integer value:");

 num=scnr.nextInt(); // Read integer value by the user

 System.out.println("Enter the Double value:");

 r=scnr.nextDouble(); // read double value by user

 System.out.println("Enter the character value:");

 ch= scnr.next().charAt(0); // read character by user

 System.out.print(num + " ,"); // display them in a single line

 System.out.print( " " +r +" ,");//dislpay in a single line  

  System.out.print( " " +ch +",");//dislpay in a single line

 System.out.print(" " +str);//dislpay in a single line

}

}

Output:

Enter the string:

ram

Enter the integer value:

34

Enter the Double value:

45.789

Enter the character value:

r

34 , 45.789 , r, ram

Explanation:

Following are the description of program

  • Read the integer ,string,char,double value by the user by using scanner class in "num","str","ch" and "r" variable respectively
  • Print that value in a single line separated by comma by System.out.println statement.

7 0
3 years ago
Other questions:
  • A web designer must effectively communicate when he/she designs a web page. If there is too much information to put onto one pag
    8·1 answer
  • Which of the following payment types require you to pay upfront?
    9·1 answer
  • A hard disk is a _ storage device
    11·2 answers
  • C++
    11·2 answers
  • Consider a multidimensional array A stored in row-major order with 22 rows and 6 columns whose subscripts start at 0. If each el
    8·1 answer
  • Write a program whose input is two integers. Output the first integer and subsequent increments of 5 as long as the value is les
    8·1 answer
  • What is the 3 different storage requirements a computer has to process data​
    12·1 answer
  • The advancements in which of the following technologies has most changed the American job market in recent years?
    14·2 answers
  • How do you get The gold chip on Megaman x3 snes I want To know
    11·1 answer
  • write a program in python to input 3 sides of a triangle. check if the triangle is equilateral, isosceles or scalene. use logica
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!